At 94, after decades as the head of consumer products manufacturer Sano-Bruno's Enterprises Ltd. (TASE: SANO1), Bruno Landesberg has decided to step down as chairman. His son, Alexander Landesberg, will succeed him. His grandson, Yuval Landesberg, is CEO.
On Tuesday, Bruno Landesberg said, "Sano was and is my life's work. I founded the company with my own hands, and, together with my family and the company's workers, we have made Sano into one of Israel's largest, most highly esteemed and liked companies. The challenge facing the company today is no different from the past - to continue developing new products for the domestic and export markets, and to continue to operate fairly towards the employees and towards consumers and customers. The time has come for me to pass the reins, and today I am putting the continued management of the company and its conduct in trusted and experienced hands."
Bruno Landesberg founded Sano in 1965, after founding Southern Marketing Company Ltd. in 1959. Its first product was a toilet bowl cleanser. Under his leadership, first as CEO and then as chairman, Sano grew to become a company with products known in every home in Israel. Sano held its IPO on the TASE in 1982. Its current market cap is NIS 1.4 billion. Bruno Landesberg owns 38.59% of company, worth NIS 531 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 5, 2014
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